In a strategic move aimed at enhancing its presence in China’s burgeoning auto insurance technology sector, Nasdaq-listed Cheche Group has forged a partnership with Beijing Houji Insurance Brokerage Co, an affiliate of tech giant Xiaomi Corporation (Xiaomi Group). The collaboration underscores Cheche’s commitment to strengthening its network within the new-energy vehicle (NEV) industry.
As part of the agreement, Cheche, known as China’s leading motor insurance technology platform, will serve as an insurance service partner for Beijing Houji. Leveraging its digital auto insurance transaction Software as a Service (SaaS) platform, Cheche will provide operational support, facilitating seamless insurance transactions for car owners across various cities, including Beijing, Shenzhen, and Hangzhou. Through the Xiaomi EV application, these car owners will gain access to efficient insurance services and related offerings.
Zhang Lei, founder, co-CEO, and chairman of Cheche, highlighted the significance of the partnership in the context of the evolving automotive landscape. “NEVs and smart vehicles continue to reshape the automotive industry, necessitating novel business models and service ecosystems,” said Zhang Lei. “Insurance, as a pivotal financial product across the vehicle ownership lifecycle, serves as a gateway to aftermarket services, presenting avenues for innovation.”
Established in 2014 and headquartered in Beijing, Cheche boasts a nationwide network of approximately 110 branches, authorized to distribute insurance policies across 25 provinces, autonomous regions, and municipalities. Over the years, Cheche has evolved into a comprehensive, data-driven technology platform, offering a wide range of services and products tailored to digital insurance transactions and insurance SaaS solutions in China.
The partnership with Xiaomi Group signifies Cheche’s strategic thrust to integrate insurance solutions seamlessly into the technological fabric and consumer experience, thereby solidifying its position as a pioneering force in China’s Auto InsurTech landscape.
